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Mastercard’s blockchain forensic firm CipherTrace has reportedly halted some of its key services amid concerns over data reliability. 
<a href="https://crypto.news/tag/ciphertrace/" target="_blank" rel="noreferrer noopener">CipherTrace</a>, a blockchain analytics firm acquired by <a href="https://crypto.news/tag/mastercard/" target="_blank" rel="noreferrer noopener">Mastercard</a> in 2021, appears to be discontinuing some of its key services, Fortune <a href="https://fortune.com/crypto/2024/03/13/mastercard-ciphertrace-blockchain-analytics-chainalysis-bitcoin-fog/" target="_blank" rel="noreferrer noopener">has learned</a>, citing sources familiar with the matter. While the exact reason behind the move remains unclear, the California-based blockchain firm appears to have suspended the following services: 
<ul> 
 <li>Armada, a tool that helps banks, payment providers, and regulators uncover virtual currency-related transactions for use in risk and fraud models by mapping legal names and account numbers to exchanges.</li> 
 <li>Inspector, a repository of attribution data ties crypto-addresses to real-world organizations, sanctioned entities, IP addresses, and events.</li> 
 <li>Sentry, a tool designed to track in real-time “know your transaction” (KYT) for compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) regulations.</li> 
</ul> 
The report highlights that this recent development follows Mastercard’s decision to retract the expert testimony of Jonelle Still, CipherTrace’s Director of Investigations and Intelligence, in <a href="https://crypto.news/bitcoin-fog-founder-convicted-crypto-laundering/" target="_blank" rel="noreferrer noopener">the Bitcoin Fog case</a>. Still had previously <a href="https://storage.courtlistener.com/recap/gov.uscourts.dcd.232431/gov.uscourts.dcd.232431.159.1.pdf" target="_blank" rel="noreferrer noopener">stated</a> that Chainalysis’ attributions were “unverifiable” and criticized the prosecution’s investigation as “massively incomplete.” 
 You might also like: <a href="https://crypto.news/ciphertrace-patent-monero-xmr-transaction-tracking-system/"> CipherTrace files patent for Monero (XMR) transaction tracking system </a> 
However, Mastercard later <a href="https://storage.courtlistener.com/recap/gov.uscourts.dcd.232431/gov.uscourts.dcd.232431.239.1_1.pdf" target="_blank" rel="noreferrer noopener">withdrew</a> Still’s testimony, asserting that the data she relied on was “unverifiable and unauditable,” originating from pre-acquisition data collection practices, Fortune pointed out. Crypto.news reached out to CipherTrace for comment and will update the article if we hear back. 
Earlier findings by the Financial Action Task Force (FATF) reveal substantial variations in blockchain data mapping among different on-chain analytics providers. 
In July 2021, FATF <a href="https://www.fatf-gafi.org/content/dam/fatf-gafi/guidance/Second-12-Month-Review-Revised-FATF-Standards-Virtual-Assets-VASPS.pdf" target="_blank" rel="noreferrer noopener">issued a report</a> comparing peer-to-peer transaction data from seven blockchain analysis firms: Chainalysis, CipherTrace, Coinfirm, Elliptic, Merkle Science, Scorechain, and TRM Labs. The comparison highlighted significant discrepancies in the data provided by these companies, leading FATF to acknowledge the challenge of drawing definitive conclusions from the presented graphs. 
 Read more: <a href="https://crypto.news/chainalysis-crypto-money-laundering-falls-29-as-lazarus-others-respond-to-mixer-sanctions/"> Chainalysis: Crypto money laundering falls 29% as Lazarus, others respond to mixer sanctions </a>

Mastercard’s CipherTrace reportedly discontinues some of its services amid data verifiability concerns

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Artikel lain yang dipublikasikan pada 14 Mar 2024

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